Upside option activity hit Silver Wheaton early on Friday, and traders racked up some fast money in the stock.
The Weekly 19 calls that expire at the end of this week were purchased early for $0.43, according to OptionMonster's tracking systems. Almost 5,000 traded in the session versus previous positioning of just 179 contracts, clearly showing that this is fresh buying.
Calls lock in the price where shares can be purchased, which can result in some nice leverage if the investor times the move correctly. That's exactly what happened in Friday's trade, because those Weekly 19 calls more than doubled to more than $1 by the afternoon.